Subscribe To
Posts
All Comments
Monday, February 10, 2014
Saturday, February 1, 2014
How will globalization impact you?
Here are some alarming statistics from the World Economic Forum. These numbers tell a story and they will impact your local economy no matter where you are living.
- 40% of the world's youth (under age 25) are unemployed.
- 357 million youth are not in education, training, or employed.
- 536 million youth are under employed in the developing countries compared to 1.5 million in the EU.
- 25.6% of the youth in developing countries are forced into part-time work.
- 23.8% of the youth in the EU are unemployed
- Over 600 million jobs need to be created over the next ten years to supply global populations.
Although we are seeing the signs of a modest recovery some economist's are reporting this is masking many serious issues. Nationalism is on the rise in Europe, China's economy is starting to slow, and true job creation to meet global demand has been non-existent. This has been a "jobless recovery" and many are calling this the new normal. We are entering a new economy where unemployment rates will be higher than normal and part-time work will be the norm.
Globalization is impacting every local economy. Job markets continue to be volatile and outsourcing will remain a constant in our lifetime and I believe with increasing velocity. As the GINI index for countries continue rise, economists are warning that globalization with all its benefits has a massive downside and that is for those who are unprepared. The undereducated and unskilled are watching the world develop past them and many times the fall back jobs they could rely on in the past are being outsourced overseas. One Harvard Economist said, "Globalization increases the rate of return on education" and further explained we have a world-wide education problem as the economy is developing faster than we can develop our human capital.
I am covering this topic in greater detail at www.RobertDickie.com and offering tips to develop a success plan for this new reality we all face. Join in the conversation.
- 40% of the world's youth (under age 25) are unemployed.
- 357 million youth are not in education, training, or employed.
- 536 million youth are under employed in the developing countries compared to 1.5 million in the EU.
- 25.6% of the youth in developing countries are forced into part-time work.
- 23.8% of the youth in the EU are unemployed
- Over 600 million jobs need to be created over the next ten years to supply global populations.
Globalization is impacting every local economy. Job markets continue to be volatile and outsourcing will remain a constant in our lifetime and I believe with increasing velocity. As the GINI index for countries continue rise, economists are warning that globalization with all its benefits has a massive downside and that is for those who are unprepared. The undereducated and unskilled are watching the world develop past them and many times the fall back jobs they could rely on in the past are being outsourced overseas. One Harvard Economist said, "Globalization increases the rate of return on education" and further explained we have a world-wide education problem as the economy is developing faster than we can develop our human capital.
I am covering this topic in greater detail at www.RobertDickie.com and offering tips to develop a success plan for this new reality we all face. Join in the conversation.
Subscribe to:
Posts (Atom)